Multi-family Professionals to know…

Have you ever thought, “How can I do this by myself?” I know that when I started, I felt that way. There are so many things to learn. So many pieces to understand.

The good news is no successful person in this business does it alone. Every effective real estate investor has to put together a team of experts. Your team will have your back. They will help you to make good decisions and help you protect your financial interests.

COMMERCIAL REAL ESTATE BROKERS
You will want to choose brokers that work full-time in the area where you want to purchase your investment properties. Developing relationships with brokers in the markets that you are targeting is critical to your success. Broker relationships can make you wealthy.

REAL ESTATE ATTORNEY
Get the best real estate attorney that you can find in your area. Make sure that they specialize in commercial real estate. Ideally, find an attorney that actually owns multi-family real estate. They will be worth every cent you spend.

COMMERCIAL LENDERS, BROKERS AND BANKERS
Remember how we talked about the benefits of leverage? Creating a working relationship with several commercial lenders and local bankers is one of the best ways to use leverage to your benefit. We prefer local and regional banks over the large national banks for small apartment buys. They are much easier to work with. There are also ex-

cellent commercial real estate lending brokers you will utilize when you get into the larger deals. It never hurts to start developing those relationships right from the start.

ACCOUNTANT
Real estate is all about money. You are going to need a great accountant to help you keep as much of it as you can. Look for one that does a lot of work for real estate investors. They will need to understand how to utilize cost segregation so you can maximize all of your tax deductions.

BOOKKEEPER
Speaking of money, hiring someone to do your bookkeeping will help you keep all your rents and bills straight. It will also reduce the time and costs associated with your accountant. There are some great virtual bookkeeping companies out there. Very few people enjoy doing bookkeeping, so outsource it. This will allow you to focus on finding great deals.

PROPERTY MANAGEMENT COMPANY
I encourage you to manage your income properties yourself; but I also encourage you to have an experienced property manager on your team. It will help you to build credibility with lenders and brokers – especially if you are new to real estate investing.

INSURANCE AGENT/BROKER
All of your investment properties are going to need to be insured. Not all insurance policies are alike nor will all policies give you sufficient coverage. Choosing an experienced and highly recommended insurance agent can save you thousands and ensure that your investments are completely protected.

The best way I know to find the different members you need to make up your team is to ask for referrals from some of the other people on this list. Ask the broker who are the best bankers or attorneys. Ask the attorney who they think is the best real estate CPA, and then ask for an introduction.

Published by Alex Williams

In the parable of Alex Williams he became a Theoretical Theorist at a early age. He states; I'm just a seeker but also a finder seeking to assist other seekers for what you seek is causing you to seek.
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